The plunge in all prices is coming on worries of a swathe of COVID-19 lockdowns across emerged markets with softening fuel demand. Crude oil traders are under immense pressure as oil prices dropped more than 3% within a few hours ago. Brent crude plunged as much as 5.8% and the West Texas Intermediate lost as […]
The U.S oil-based contract, the major indicator used for U.S. crude prices, sold at 35.79 per barrel. Crude oil traders are presently under immense pressure, as they log in their worst monthly loss since March. The plunge in oil prices is coming on fresh restrictions placed on human mobility around Western Europe, in order to
Oil prices suffer worst monthly decline since MarchRead More »
Crude oil prices dropped more than 5% and falling below the key $40 per barrel support, at the American trading session mid-week. The slide is attributed to unexpectedly large U.S. crude oil inventories for last week reported by the government, which reinforced concerns about depleting demand for fuel amidst the worsening global outbreak of Covid-19.
Growing concern that oil supply could fall by 3% continues as a result of increasing cases of COVID-19 in the US and Europe. There is a growing concern that oil supply will fall by 3%, escalating last week’s losses as a result of growing cases of COVID-19 in the United States and Europe. This has
Oil supply feared to drop by 3%, as new cases of COVID-19 infections increaseRead More »
Crude oil prices ended the week mixed cumulatively amid surging Covid-19 caseloads. Crude oil prices ended the week mixed cumulatively amid surging Covid-19 caseloads, as oil traders pondered on what direction crude oil prices will go. What we know: American-based oil contract, West Texas Intermediate closed at $40.88 per barrel, gaining 0.7% on the week,
Crude oil prices end mixed W/W, oil traders grow waryRead More »
Crude oil prices held to gains after U.S. President, Trump resumed the White House from the hospital. Crude oil prices held to gains after U.S. Trump resumed back to the White House from hospital after being admitted for treatment for COVID-19 coupled with a pending storm waiting to hit the U.S. Gulf of Mexico. What
Crude oil prices hold gains, President Trump returns to workRead More »
President Trump’s recent improved health status lifted the morale of oil traders, as buying pressures increased across the energy market, on Monday. The London trading session witnessed high price upswings with major oil benchmarks gaining 4%. Trump’s health update eased political growing geopolitical concerns with Brent crude prices trading above $40/ barrel and U.S. West
Crude oil prices gain more than 4% on President Trump’s improved healthRead More »
Oil futures dropped at its last trading session, contributing to a second weekly loss for crude oil prices as President Donald Trump’s COVID-19 diagnosis raised further concerns over a slowdown in the global economy. “Rising coronavirus cases across the globe fan fears around slowing world growth and pace of demand recovery,” said Lukman Otunuga, senior
Oil futures fell precipitously on Wednesday amid mounting fears of oil demand recovery. Crude oil prices dropped lower at Asia’s trading session on Wednesday. The price plunge in the hydrocarbon commodity is attributed to oversupply fears, as U.S. refineries are beginning to shed labor force. Brent oil futures dropped 1.17% to $40.55 by 4.57 GMT
Oil traders are concerned about the blurred demand outlook in the short term. Oil prices dragged lower at Monday’s trading session in Asia. Traders are deeply worried over rising COVID-19 cases upsetting hopes for a smooth recovery in energy demand, with both main oil benchmarks on track for their first monthly declines in multiple months
